Mitigation of damages is a doctrine that requires a nonbreaching party to minimize damages
Indicate whether the statement is true or false
TRUE
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Which of the following is not a purpose of the management representation letter?
a. It reminds management of its responsibility for the financial statements. b. It confirms oral responses obtained by the auditor earlier in the audit and the continuing appropriateness of those responses. c. It decreases the possibility of misunderstanding concerning the matters that are the subject of the representations. d. It implies that the auditor is responsible for the design of the internal controls.
Compared to a general accounting system, a cost accounting system for a manufacturing company emphasizes:
A. Periodic inventory counts. B. Products and average costs. C. Continually updating costs of materials, work in process, and finished goods inventories. D. Total costs. E. Large volume operations involving standardized products.
You are asked on a job application why you left your previous position. What is the best response to this question?
A) Confidential B) To accept a position with more responsibility C) For personal reasons D) Didn't get along with coworkers
For an investment in a stock, the probability of the return being -10.0% is 0.3, 10.0% is 0.4, and 30.0% is 0.3. Given the probability distributions, what is the expected rate of return for the investment?
A. ?10.0% B. ?9.5% C. ?15.0% D. ?12.5% E. ?13.0%